Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Multinational pharmaceutical company Novo Nordisk, based in Bagsværd outside Copenhagen in Denmark, plans to cut 250 jobs in the European sales division.
Reasons for the restructuring are said to be the pressure on prices of insulin products. It is reported that health reforms and pressures from competitors have decreased growth in the insulin business in Europe to fewer than 3%, Novo informed on 28. October 2011.
Novo has 32000 employees in Europe of which ca. 43% work in Denmark.
Eurofound (2011), Novo Nordisk, Internal restructuring in European Union, factsheet number 72794, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/72794.